IYLD vs. HISF
IYLD (iShares Morningstar Multi-Asset Income ETF) and HISF (First Trust High Income Strategic Focus ETF) are both Diversified Portfolio funds. IYLD is passively managed, while HISF is actively managed. Over the past year, IYLD returned 13.16% vs 2.95% for HISF. Their 0.56 correlation means they have sometimes moved together and sometimes differently. IYLD charges 0.60%/yr vs 0.87%/yr for HISF.
Performance
IYLD vs. HISF - Performance Comparison
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Returns By Period
In the year-to-date period, IYLD achieves a 5.72% return, which is significantly higher than HISF's -0.38% return.
IYLD
- 1D
- -0.18%
- 1M
- 0.34%
- 6M
- 2.24%
- YTD
- 5.72%
- 1Y
- 13.16%
- 3Y*
- 9.75%
- 5Y*
- 3.22%
- 10Y*
- 3.84%
- ALL TIME*
- 4.33%
HISF
- 1D
- -0.16%
- 1M
- -0.89%
- 6M
- -0.63%
- YTD
- -0.38%
- 1Y
- 2.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $329.55K | $362.74K | $352.16K | |
| $181.04K | $278.59K | $373.50K |
IYLD vs. HISF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IYLD iShares Morningstar Multi-Asset Income ETF | 5.72% | 15.44% | 3.66% |
HISF First Trust High Income Strategic Focus ETF | -0.38% | 8.39% | 3.41% |
Correlation
The correlation between IYLD and HISF is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2024 | 0.56 |
The correlation between IYLD and HISF has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.
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Return for Risk
IYLD vs. HISF — Risk / Return Rank
IYLD
HISF
IYLD vs. HISF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Multi-Asset Income ETF (IYLD) and First Trust High Income Strategic Focus ETF (HISF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IYLD | HISF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.19 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 1.22 | +1.63 |
| Martin ratioReturn relative to average drawdown | 11.17 | 3.89 | +7.28 |
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Drawdowns
IYLD vs. HISF - Drawdown Comparison
The maximum IYLD drawdown since its inception was -30.23%, which is greater than HISF's maximum drawdown of -3.86%. Use the drawdown chart below to compare losses from any high point for IYLD and HISF.
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Drawdown Indicators
| IYLD | HISF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.23% | -3.86% | -26.37% |
Max Drawdown (1Y)Largest decline over 1 year | -4.63% | -2.90% | -1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -5.20% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.57% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.23% | — | — |
Current DrawdownCurrent decline from peak | -0.18% | -1.61% | +1.43% |
Average DrawdownAverage peak-to-trough decline | -4.49% | -0.90% | -3.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 0.91% | +0.27% |
Volatility
IYLD vs. HISF - Volatility Comparison
iShares Morningstar Multi-Asset Income ETF (IYLD) has a higher volatility of 1.40% compared to First Trust High Income Strategic Focus ETF (HISF) at 0.90%. This indicates that IYLD's price experiences larger fluctuations and is considered to be riskier than HISF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYLD | HISF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 0.90% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 2.80% | +1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 3.33% | +2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.88% | 3.91% | +3.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.54% | 3.91% | +5.63% |
IYLD vs. HISF - Expense Ratio Comparison
IYLD has a 0.60% expense ratio, which is lower than HISF's 0.87% expense ratio.
Dividends
IYLD vs. HISF - Dividend Comparison
IYLD's dividend yield for the trailing twelve months is around 4.61%, less than HISF's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HISF First Trust High Income Strategic Focus ETF | 5.12% | 4.69% | 3.92% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IYLD iShares Morningstar Multi-Asset Income ETF | 4.61% | 4.72% | 5.32% | 5.76% | 5.45% | 3.47% | 4.38% | 5.25% | 5.78% | 4.22% | 4.84% | 5.26% |
Frequently Asked Questions
IYLD and HISF have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYLD has higher volatility (1.40%) compared to HISF (0.90%). In terms of maximum drawdown, IYLD dropped -30.23% vs HISF's -3.86%.
On 1-year performance, IYLD leads with 13.16% vs 2.95% for HISF. On fees, IYLD is cheaper at 0.60% per year. On volatility, HISF has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYLD has performed better with a 13.16% return vs 2.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYLD is cheaper with a 0.60% expense ratio, compared with 0.87% for HISF.
HISF has the higher dividend yield at 5.12%, compared with 4.61% for IYLD.
They also come from different issuers: iShares and First Trust. Their fees differ too: 0.60% for IYLD and 0.87% for HISF.
IYLD currently has the higher Sharpe Ratio (2.28 vs 1.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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